Wallace Law Firm, P.C. Profile & Mission

If you are facing serious financial or legal problems, choosing an attorney to help you will be one of the most important decisions you will make. Wallace Law Firm P.C. has built its practice on the premise of providing those in need with the attention, honesty, and personal care needed when facing any legal circumstance. More

Resources & Links

Courts:
Here you will find links to all three Oklahoma Bankruptcy Courts, and selected State District courts. You will find information about the judges, trustees, local rules, forms, and other useful information.

Bankruptcy Courts

Eastern, Northern, and Western District US Bankruptcy Courts, and the 10th Circuit Bankruptcy Appellate Panel.

This is a link to the list of all approved Credit Counseling Agencies for Oklahoma.

From the Department of Justice Site: "Credit counseling agencies listed on this Web page are nonprofit budget and credit counseling agencies approved to provide counseling that individuals must take before they are eligible to file for bankruptcy protection, 11 U.S.C. § 109(h)."

Pre-filing certificate $25. From their Site: "Our online courses help you to analyze your spending and debts, and review the basics of good financial planning to help you get a fresh start after bankruptcy."

$50 each, or $75 for a couple. From their Site: "At CCCS, we know that bankruptcy is not an easy choice. When you are facing financial problems, we know that this may be one of the most stressful times of your life. CCCS wants to help you through the bankruptcy process."

$30 online, $50 over the phone, fee covers both parties, if it is a couple. From their Site: "We provide credit counseling, debt management programs and alternatives to debt consolidation - without a loan or bankruptcy. Get debt relief and eliminate the stress caused by credit card debt with a solution from InCharge."

Other Important Resources

Resources in this group, although important, don't fit into any other category.

Even if you have bad credit, you may be able to refinance your car inside your bankruptcy case, paying only what it is worth, or get a replacement car. You can then either surrender your present wheels in your Chapter 7, or pay only what your car is worth to your present creditor. From their Site: "The Nation's premier vehicle redemption company, provides a proven, win-win-win system for debtors, creditors, and debtors attorneys."

Compare mortgage, refinance, insurance and CD rates. Expert analysis of home loan finance topics and trends. Research current interest rates, and the current Prime rate, which affects the interest rate you pay on vehicles in a Chapter 13bankruptcy.

Before or after you file bankruptcy, you may find you are receiving collection letters for debts that are outside the statute of limitations, or for debts you do not believe you incurred. Your first step in finding out if the debt is one you have incurred, is to write letters to the entity attempting to collect, requiring they verify the debt. You should do this as soon as the creditor has contacted you. This is a link to a page displaying a variety of letters to accomplish this.

The FCRA promotes the accuracy and privacy of information in the files of the nation’s consumer reporting companies. The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the FCRA with respect to consumer reporting companies. The information on this Government Web site provides information about how to obtain your free annual credit report, how to challenge inaccurate information, whether to order all three reports at the same time, and other important information about obtaining your free credit reports.

The Obama Administration’s Making Home Affordable Program includes opportunities to modify or refinance your mortgage to make your monthly payments more affordable. It also includes the Home Affordable Foreclosure Alternatives Program for homeowners who are interested in a short sale or deed-in-lieu of foreclosure. This can be done before, after, or during a Bankruptcy.

Information needed to complete the Means Test forms comes from the Census Bureau and the Internal Revenue Service (IRS). This Web site reproduces the Census Bureau and IRS Data necessary to complete Bankruptcy Forms 22A and 22C.

This is a link to NOLO's online means test calculator, that can help you determine whether you are over or under median income, and therefore determine whether you are income eligible for a Chapter 7, or if you must file a Chapter 13bankruptcy.

Here, you can read the Bankruptcy Law and do your own research. Note: I suggest you leave the statutory interpretation to a qualified Bankruptcy Attorney, but this is a good place to start researching if you want to know the law, as it might apply to your situation.

You may be able to combine your existing Federal education loans into one new consolidated loan that offers several advantages. In most cases, Student Loans are not dischargeable in bankruptcy. However, if you are determined to try, you must have first consolidated your loans, and have attempted to make payments. All Federal Student Loan borrowers should apply to consolidate their loans. Be aware, however, that borrowers are limited to one consollidation, so if you are still going to school and still taking out new loans, you might want to postpone consolidation until you have completed your schooling.

Location

From the Site: "This site will provide the same information about assessed property in this county that has always been a matter of public record. You will be able to search for information by owner name, physical address or through our parcel maps."

Use Form 4506-T to order a transcript or other return information free of charge. You can also call 1-800-829-1040 to order a transcript. If you can not locate a copy of your Federal Tax return, or it's accompanying W-2;s or 1099's, for the prior three years prior to filing, you will need to request a Tax Transcript for those years. We suggest ordering your transcripts if you intend to file bankruptcy, whether or not you think you can locate copies of your returns. If you have retained our office, we recommend you have the transcripts mailed directly to our us. Also, if you need to file quickly, you should go to the IRS Office and request a transcript in person. Usually, you can get it at the time of your visit. If you request the transcripts by mail it takes, on average, 14 days to receive the transcripts.

Location

You must have filed all of your Oklahoma tax returns in a Chapter 13, in order to get your case confirmed. We need to know all of your outstanding tax debt, and the date your returns were filed, in order to properly analyze your financial situation, prior to filing your case. If you need to obtain information about your return, you should contact your preparer, or the OTC.

Vehicle Valuations

You will need to know the value of your vehicle before you file. NADA is the acccepted valuation, per a judges opinion in the Western District of Oklahoma. Elsewhere, you might want to use Edmunds or Kelley BB.